chapter five
THE MARKET, EXTERNALITY, AND THE “OPTIMAL” TRADE-OFF BETWEEN ENVIRONMENTAL QUALITY AND ECONOMIC GOODS
learning objectivesAfter reading this chapter you will be familiar with the following: | • the waste assimilative (absorptive) capacity of the natural environment; |
| • economic, ecological and technological factors affecting the waste assimilative capacity of the natural environment; |
| • conditions for clearly defined ownership rights; |
| • common property resources and the economic problem; |
| • the concept of transaction cost; |
| • the concept of externality; |
| • the root causes and economic consequences of environmental externality; |
| • the optimal trade-off between economic goods and environmental quality; |
| • using environmental tax to correct environmental externality; |
| • the macroeconomic effects of environmental regulations. |
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Questia, a part of Gale, Cengage Learning. www.questia.com
Publication information:
Book title: Principles of Environmental Economics:Economics, Ecology and Public Policy.
Contributors: Ahmed M. Hussen - Author.
Publisher: Routledge.
Place of publication: London.
Publication year: 2000.
Page number: 89.
This material is protected by copyright and, with the exception of fair use, may
not be further copied, distributed or transmitted in any form or by any means.
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